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Hanjin Shipping bankruptcy

Hanjin Shipping filed for bankruptcy protection Aug. 31, 2016, after months of trying to raise liquidity and restructure its debt, triggering a mad scramble by shippers to locate and gain control of their containers. Hanjin vessels have been arrested and ports are refusing to work Hanjin ships for fear they will not be compensated. Hanjin Shipping's collapse is by far the largest container shipping bankruptcy in history and the consequences will continue to reverberate throughout international supply chains and the transportation sector.

 

 

News & Analysis

29 Sep 2017
Sponsored: MSC's Dimitri Ruggiero, vice president of global accounts, on the top concerns of Mediterranean Shipping Company's customers following 2016-2017 market turmoil including the "Hanjin effect." He discusses the importance of a balance of business stability and diversity, and speculation on larger-ship orders. 
21 Jun 2017
Volatility in the shipping line industry will continue, and the expectation is that more consolidation is ahead, said Dr. Noel Hacegaba, the Port of Long Beach's chief commercial officer.
31 May 2017
The New York Stock Exchange-listed group’s net income tumbled.
26 May 2017
Prior to the collapse of the national shipping line, Busan was poised to supplant Hong Kong in global port rankings.
22 Mar 2017
A federal judge has allowed a bank to foreclose on and sell its interest in more than 1,500 Hanjin Shipping containers to repay the bank for owed lease payments.
17 Mar 2017
The lessons to be learned from the collapse of Hanjin Shipping are almost too many to absorb.

Commentary

Some issues in ocean shipping are so predictable that you can plan for them, yet others are not so predictable.